CCI Clears Merger Of ADES International Cayman With Shelf Drilling

20 Nov 2025 CW Team

The Competition Commission of India (CCI) has approved the proposed merger of ADES International Cayman, a wholly owned subsidiary of ADES International Holding Ltd, with and into Shelf Drilling Ltd.

Under the proposed combination, ADES International Cayman will merge into Shelf Drilling, with Shelf Drilling remaining the surviving entity. The merger proceeds to the shareholders of Shelf Drilling will be settled in cash, after which Shelf Drilling will become a wholly owned subsidiary of ADES International.

ADES International functions as a holding company for the ADES Group’s oil and gas drilling subsidiaries, focusing on investment and management activities. ADES, the merging entity, is newly incorporated and currently has no business operations. Both belong to the wider ADES Group, which provides oil and gas drilling and production services through three offshore jack-up rigs operating in India.

The Shelf Group comprises Shelf Drilling and its downstream affiliates. In India, the group operates and charters drilling rigs and provides oilfield services for offshore oil and gas exploration and development.

A detailed order from the Commission will be issued in due course.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..